How Long Does It Take for Homeowner's Insurance to Go Into Effect?

It doesn't take long to get insurance coverage.

Your home is not only one of your biggest assets, but it's also where you and your family live. Damage to your home can be an expensive emergency, costing money to repair and replace lost goods, and your family may have to live elsewhere for a while. Homeowner's insurance, sometimes called home insurance or hazard insurance, can provide financial protection and peace of mind.

Effective Date

Typically, your coverage begins after you have made your first payment. Before that, your insurer assesses the value of the property and the risks. The insurance company may require a home insurance inspection to accurately assess its risk. An inspection can slow the process by a few days -- inspector needs permission to view the inside of the home -- so it's best to inquire about insurance sooner rather than later. You can apply for homeowner's insurance before you take possession of the home. In that case, coverage begins on your closing date. Mortgage lenders often require some form of homeowner's insurance as a condition of the loan, and many insurance companies can offer insurance for your purchase on short notice.

About the Author

With an eclectic background, Ian Johnston has written on diverse topics including literature, real estate, executive leadership and mental health. He received an Master of Arts from The University of Western Ontario, and a Master of Education from The University of Ottawa. He lives in Dartmouth, Nova Scotia.